Premier Path Wealth Partners LLC Boosts Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Premier Path Wealth Partners LLC grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 9.4% in the second quarter, Holdings Channel reports. The institutional investor owned 5,525 shares of the wireless technology company’s stock after purchasing an additional 475 shares during the period. Premier Path Wealth Partners LLC’s holdings in QUALCOMM were worth $1,101,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Sather Financial Group Inc increased its position in shares of QUALCOMM by 1.5% during the second quarter. Sather Financial Group Inc now owns 342,978 shares of the wireless technology company’s stock worth $68,314,000 after purchasing an additional 4,942 shares in the last quarter. Diversified LLC purchased a new stake in QUALCOMM in the second quarter valued at approximately $309,000. JB Capital LLC purchased a new position in shares of QUALCOMM during the second quarter worth approximately $9,795,000. Leonard Rickey Investment Advisors P.L.L.C. increased its holdings in shares of QUALCOMM by 8.7% in the 2nd quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 1,338 shares of the wireless technology company’s stock valued at $267,000 after acquiring an additional 107 shares during the period. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in QUALCOMM by 7.1% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 3,865 shares of the wireless technology company’s stock valued at $770,000 after purchasing an additional 256 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on QCOM. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Piper Sandler reaffirmed an “overweight” rating and set a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. TD Cowen boosted their target price on QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. Bank of America increased their price target on QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Finally, StockNews.com raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $210.63.

Insider Buying and Selling

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the sale, the chief technology officer now directly owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the sale, the chief technology officer now owns 237,893 shares in the company, valued at $47,452,516.71. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the transaction, the chief financial officer now owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,000 shares of company stock worth $3,496,590. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Price Performance

QCOM traded up $4.50 during midday trading on Friday, reaching $173.50. 6,823,561 shares of the company’s stock were exchanged, compared to its average volume of 9,308,624. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The stock has a market capitalization of $193.63 billion, a PE ratio of 23.32, a P/E/G ratio of 1.89 and a beta of 1.27. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. The business’s 50-day moving average price is $188.22 and its 200 day moving average price is $180.11.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.21. The firm had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. As a group, equities analysts anticipate that QUALCOMM Incorporated will post 7.98 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s payout ratio is currently 45.70%.

QUALCOMM Company Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.